Halloween teaches us valuable financial lessons like budgeting candy, but it’s not all gum drops and lollipops. A retailmenot.ca survey found that Canadians spent $1 billion on Halloween in 2015. In fact, the Halloween industry is so large that it can support retailers who are only open for the season.


According to Global News, the average Canadian spends $52 per person on costumes.T he cost of costumes rarely reflects the quality. So why shell out so much money? Save yourself from the frightening cost of a costume by dressing up as an iconic movie or TV character in plain clothes. Don’t let the cost of Halloween costumes scare you away this year.


4 Cheap Halloween Costume Ideas from Your Closet


For men:


Marty McFly from Back to the Future

You will need white sneakers, a jean jacket, blue jeans, a white buttoned shirt, an orange vest and a red t-shirt.

Quote: “Wait a minute, Doc. A… Are you’re telling me you built a time machine… Out of a DeLorean?”


Ace Ventura from Ace Ventura: Pet Detective

You will need to style your hair up and back in the iconic Ace Ventura style, a pair of black converse or boots, red striped pants or something similar, a floral pattern shirt, a white tank top and an ID card reading “Ace Venture Pet Detective”.

Quote: “That was close one ladies and gentlemen, of course in every contest, there must be, a loser. Lew-Who, Za-Her.”


For women:


Wednesday Addams from The Addams Family

You will need dark black mascara, a white collared blouse, a black long sleeve shirt, white stockings, a pair of black shoes and your hair in pigtail braids.

Quote: “I’ll stop wearing black when they make a darker colour”


Sandy Olsson from Grease

You will need red lipstick, a tight pair of black pants (preferably leather), a black shirt that shows off your shoulders and red high heels.

 Hang a leather jacket over your shoulder and do your hair to match Sandy’s to really sell this costume.

Quote: “Tell me about it, stud.”


Bonus: You can have a lot of fun dressing up as yourself in high school. Find an embarrassing photo of yourself and replicate the look.

A DIY costume will show off your creativity and make you the life of the party. Consider a costume from your closet before spending money at a retailer. The key to a great Halloween costume is making it fun, so memorize some movie quotes, dress up as your favorite character this year and save your money.


Is a RESP on Your Back to School Shopping List?

Published by on

If not, then maybe it should be. Saving for a child’s education is important because it encourages younger generations to pursue a college or university degree while relieving some of the financial burden associated with higher learning. Investing in a Registered Education Savings Plan (RESP) helps you achieve the financial goal faster.


Now that it’s time for back to school let me ask you a question, how would you spend $26,819? According to The National Post, that’s the amount of debt your child may owe in student loans after graduation.

In fact, debt has become such a source of stress for students that some universities have started to invest in programs to help students deal with the mental health issues that student debt can cause.


Back to school is the perfect time to start a budget

Now is the time to start thinking about money and wondering if your child will have enough for school essentials such as a laptop and textbooks - on top of tuition. A RESP can help plan – and pay for – expenses. Parents and grandparents can open a RESP and supercharge your savings by accessing free educational grant money from the Canadian government and tax-free investment growth.

Here’s how a RESP can help save for back to school

Starting early comes with savings benefits

Whether you have one year, 10 years or 17 years to save you can always help your child get ahead by giving them a financial opportunity.

If you start saving for your child’s education from birth, you may be eligible to receive up to $8,500 by the time they turn 17 through the Canadian Canada Education Savings Grant (CESG). Additional government assistance is available to modest-income families through the Canada Learning Bond.

It’s also never too late to start saving

If you didn’t have the financial capacity to start saving at an early age, it’s OK because you can carry forward any unused grants up to $5000 per year. It’s important to define your savings goal based on your income. If you can afford it, you will maximize the annual $500 CESG by investing $2,500 per year into a RESP.

If your child is working part-time, consider asking them to contribute their own RESP. This helps ensure you take full advantage of the government grants and teaches your children financial responsibility at the same time.

Money is such a big part of attending college or university and although financial aid may be available, you can ensure your child accepts their acceptance letter by saving for their future with a RESP.

If you want to help your child transition to adulthood without the added stress of debt, let’s talk about saving for back to school with a RESP.




Photo provided by: Pexels.com